3 Big Things: 1. Fed raised the rate by 50 basis points. 2. Buying more property now is a safe investment! 3. Inflation is continuing to surge.
Hey there, it’s Bruce Woodburn with CrossCountry Mortgage and it’s time for the three big things you need to know. All right, So listen, let’s get right down to it. I’m going to keep this on an economic conversation today because there’s a lot of big economic news going on right now and I think that we need to address this thing. So I promise to always give you the real news, not the fake news.
- Okay, So here’s what we got. First of all, I don’t know if you saw this, but the Fed raised the Fed rate this week by 50 basis points. They’re going to raise it again, guys, it’s going to continue to go up. So here’s the thing, Jamie Diamond thinks we’re going into a hurricane here now. What does that mean for you? It means that we’re going see some unchartered times. There’s things going on in this economy that we’ve never seen before. And I don’t think it’s good. I don’t think our administration has a clue as to what to do with the way the economy is going right now and I don’t think they’re even trying. So that’s my political statement, but I think it’s a travesty as to what they’re doing with the economy right now and I don’t think that any of them agree on anything and it’s just gonna get worse for all of us. But here’s the thing about that, you’re probably going to see a pretty good pullback in the stock market, probably some shifts now, that’s not gonna look good on paper. But if you use that as a buying opportunity when they go down, you can make some money.
- Now, here’s something I’m doing. I’m buying real estate, okay, I’m out buying real estate today right now and I’m in the market. Why? Because I think I’m more stable with my money in real estate right now than I do in the stock market. I just don’t think the stock market is going to be very stable. That doesn’t mean I’m pulling out, doesn’t mean I’m cashing out. It just means that I’m not really putting more money into it until it stabilizes. So I’m going to pull a little out and then put it into real estate. I know I can make a lot of money and rents, rents are going up like crazy. So why not buy more property? And I think that I’m safe with that. You’re also seeing that banks will start to get more conservative when the economy doesn’t go so well, banks start to get a little tighter. So get yourself into a mortgage right now, buy real estate, if you don’t own and you’re renting, buy today. If you don’t own or if you do own and you want more property like I do, I’m buying more property right now, I can help you with that.
- And then the last thing is is that They’re predicting that oil prices could hit $175 dollars per gallon now, that’s outrageous. That’s outrageous. So you know what to do during the next election, Alright, I’m just gonna tell you that you know what to do during the next election, we have to change the direction that things are going in right now.
That’s my message to you, Bruce Woodburn, CrossCountry Mortgage. You need help on your mortgage. I’m the guy to do it. Thank you. Have a great weekend.